How much will I need to pay extra to pay off a 30 yr mortgage in 15 yrs?

Answer 1

You can't tell without knowing the interest rate.

At no interest, you'd have to double the payments, which you don't need a calculator to know is true.

At 6% interest, you'd need to make a payment of about 40% extra to pay that early.

At 10% interest, you'd only have to pay about 22% extra.

Answer 2

Not enough information to answer your question...but as a compromise: Make one extra principle and interest payment per year and you will pay off the loan in approximately 19 years and 4 months